Lower Shore Enterprises Inc
- Assets
- $5.1m
- Revenue
- $3.7m
- Investments
- $14.0k
- Employees
- 82
- Location
- Salisbury, MD
- Founding
- 09/1968
- Data as of
- 06/2022
- EIN
- 52-0857128
Organization Overview
Lower Shore Enterprises Inc is located in Salisbury, MD. The organization was established in 1968. According to its NTEE Classification (J33) the organization is classified as: Sheltered Employment, under the broad grouping of Employment and related organizations. As of 06/2022, Lower Shore Enterprises Inc employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lower Shore Enterprises Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Lower Shore Enterprises Inc generated $3.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $2.4m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EMPLOYMENT OPPORTUNITIES FOR INDIVIDUALS WITH DISABILITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMOTIONAL AND PHYSICAL REHABILITATION AND TRAINING SERVICES, WORKSHOPS, AND OFFSITE SERVICES TO PREPARE INDIVIDUALS WITH DISABILITIES FOR EMPLOYMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bevereley Stoakley Director | Trustee | 1 | $0 |
Renee Smith Director | Trustee | 1 | $0 |
Ann Anderson Secretary | OfficerTrustee | 1 | $0 |
Don Hartigan Director | Trustee | 1 | $0 |
Jeronna Truitt-Smith Director | Trustee | 1 | $0 |
Kathryn Ellis Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $940 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,552,342 |
| All other contributions, gifts, grants, and similar amounts not included above | $270,903 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,824,185 |
| Total Program Service Revenue | $1,036,213 |
| Investment income | -$152,761 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,380 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,713,513 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,336,652 |
| Pension plan accruals and contributions | $16,482 |
| Other employee benefits | $135,345 |
| Payroll taxes | $100,223 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,537 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,216 |
| Fees for services: Other | $89,216 |
| Advertising and promotion | $6,737 |
| Office expenses | $35,759 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,736 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $175,623 |
| Insurance | $83,803 |
| All other expenses | $78,199 |
| Total functional expenses | $2,400,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,658,981 |
| Savings and temporary cash investments | $250,000 |
| Pledges and grants receivable | $68,105 |
| Accounts receivable, net | $162,920 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,640 |
| Prepaid expenses and deferred charges | $38,593 |
| Net Land, buildings, and equipment | $601,588 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $13,959 |
| Investments—program-related | $0 |
| Intangible assets | $4,500 |
| Other assets | $1,267,343 |
| Total assets | $5,073,629 |
| Accounts payable and accrued expenses | $115,684 |
| Grants payable | $0 |
| Deferred revenue | $55,958 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $77,217 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $248,859 |
| Net assets without donor restrictions | $4,668,723 |
| Net assets with donor restrictions | $156,047 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,073,629 |